When the current through the load exceeds a level determined by the position of the wiper on the 1k wire-wound pot, this circuit cuts off the load immediately. If S1 is open, the range is approximately 300-650 mA, and 0.8-2A when it is closed. The key variable in the operation of the fuse is the voltage drop across the power resistor(s) which are connected in series with the load. This voltage drop is directly proportional to the current the load draws. When this current is low, the voltage across the resistors is also small and cannot trigger T1.